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MMLU-Pro / 7146 / How did Joseph Schumpeter build his theory of the business cycle, and of growth,…

Problem

Answer published by the source. Consult the official source to check your work against its answer.

question

How did Joseph Schumpeter build his theory of the business cycle, and of growth, from the idea of embodied techno- logical progress?

category

economics

options

  1. The business cycle and growth are driven primarily by traditional industries, with little impact from technological progress.
  2. Without technological progress, there would be no business cycle or growth.
  3. Business cycles and growth are mainly the result of random market fluctuations, with technological progress playing a minor role.
  4. Technological progress and imaginative, risk-taking innovators were the keys to the business cycle, and to growth.
  5. Technological progress is the only factor in the business cycle and growth, with no contribution from entrepreneurs.
  6. Technological progress and growth are unrelated to the business cycle.
  7. Technological progress is solely determined by government policies, which in turn drive the business cycle and growth.
  8. Technological progress hinders the business cycle and growth.
  9. Schumpeter believed that business cycles and growth are perpetuated by consumer demand, not technological progress.
  10. Technological progress disrupts the business cycle and growth by causing economic downturns.

src

stemez-Economics

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Source and history

upstream_id / Original problem ID
7146
task_id
62e64031-cf52-5efd-a693-f6a48fd90528
task_key
default--test--7146
task_revision_id
1
config / split
default / test

Official source

initial import